Patton Fund Management Inc. Sells 221,248 Shares of Warner Bros. Discovery, Inc. $WBD

Key Points

• Patton Fund Management sharply reduced its Warner Bros. Discovery stake in the first quarter, selling 221,248 shares and cutting its position by 63.9% to 124,809 shares worth about $3.4 million.
• Warner Bros. Discovery posted a weaker-than-expected quarterly report, with EPS of -$1.17 versus analyst expectations of -$0.10, while revenue came in at $8.89 billion and was down 1% year over year.
• Wall Street sentiment remains cautious overall: the stock’s consensus rating is Hold with an average price target of $27.04, though recent news has highlighted possible upside from a potential Paramount-related deal and continued DC content expansion.

Patton Fund Management Inc. cut its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 63.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 124,809 shares of the company's stock after selling 221,248 shares during the quarter. Patton Fund Management Inc.'s holdings in Warner Bros. Discovery were worth $3,427,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Swiss RE Ltd. purchased a new position in shares of Warner Bros. Discovery in the 4th quarter worth approximately $26,000. Fideuram Asset Management Ireland dac bought a new position in shares of Warner Bros. Discovery in the fourth quarter valued at approximately $29,000. MV Capital Management Inc. purchased a new stake in shares of Warner Bros. Discovery during the fourth quarter valued at approximately $30,000. Rakuten Securities Inc. increased its position in shares of Warner Bros. Discovery by 81.5% during the fourth quarter. Rakuten Securities Inc. now owns 1,160 shares of the company's stock valued at $33,000 after acquiring an additional 521 shares during the last quarter. Finally, TOWER TRUST & INVESTMENT Co lifted its holdings in Warner Bros. Discovery by 4,730.8% during the fourth quarter. TOWER TRUST & INVESTMENT Co now owns 1,256 shares of the company's stock worth $36,000 after acquiring an additional 1,230 shares during the period. 59.95% of the stock is owned by institutional investors.

Warner Bros. Discovery Stock Performance

NASDAQ:WBD opened at $26.74 on Monday. The company has a market capitalization of $67.04 billion, a P/E ratio of -38.20 and a beta of 1.54. The business has a fifty day simple moving average of $26.98 and a two-hundred day simple moving average of $27.71. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.73 and a quick ratio of 0.73. Warner Bros. Discovery, Inc. has a 1 year low of $10.76 and a 1 year high of $30.00.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The company reported ($1.17) EPS for the quarter, missing analysts' consensus estimates of ($0.10) by ($1.07). The firm had revenue of $8.89 billion for the quarter, compared to analysts' expectations of $8.89 billion. Warner Bros. Discovery had a negative net margin of 4.67% and a negative return on equity of 4.77%. The firm's quarterly revenue was down 1.0% on a year-over-year basis. During the same period in the prior year, the company earned ($0.18) EPS. On average, analysts expect that Warner Bros. Discovery, Inc. will post -1.07 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Wells Fargo & Company assumed coverage on Warner Bros. Discovery in a research report on Monday, March 9th. They issued an "equal weight" rating and a $31.00 price objective on the stock. Guggenheim reiterated a "neutral" rating on shares of Warner Bros. Discovery in a research note on Thursday, May 7th. Zacks Research raised shares of Warner Bros. Discovery from a "strong sell" rating to a "hold" rating in a report on Monday, June 1st. Moffett Nathanson raised shares of Warner Bros. Discovery from a "hold" rating to a "strong-buy" rating in a report on Sunday, March 8th. Finally, Weiss Ratings lowered shares of Warner Bros. Discovery from a "hold (c-)" rating to a "sell (d-)" rating in a research report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, fourteen have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $27.04.

Key Warner Bros. Discovery News

Here are the key news stories impacting Warner Bros. Discovery this week:

• Positive Sentiment: Shares rose on reports that EU regulators may be willing to approve a Paramount deal involving Warner Bros. Discovery, raising hopes that a merger could unlock value for WBD shareholders. Article Title
• Positive Sentiment: Warner Bros. Discovery’s DC strategy remains in focus after Warner Bros. Animation announced three new DC TV series, reinforcing the company’s ability to keep building its superhero content pipeline. Article Title
• Positive Sentiment: The company also teamed with AWS around the “Supergirl” release, extending DC’s reach and adding another marketing/engagement channel for the franchise. Article Title
• Neutral Sentiment: Coverage on Warner Bros. Discovery’s lifestyle merchandising strategy questioned whether it deepens the DC brand or risks diluting focus; this looks more like a strategic debate than a near-term financial catalyst. Article Title
• Neutral Sentiment: Forbes reported that Warner Bros. is likely to keep its existing PVOD release strategy for DC’s “Supergirl,” suggesting continuity rather than a major change to the film monetization approach. Article Title

Warner Bros. Discovery Company Profile

Warner Bros. Discovery NASDAQ: WBD is a global media and entertainment company formed when WarnerMedia and Discovery, Inc combined their businesses in 2022. Headquartered in New York City, the company assembles a broad portfolio of film and television production, linear and cable networks, streaming services and consumer distribution operations. Its assets span well-known studio brands, premium scripted and unscripted programming, news and factual entertainment, and licensed franchise properties.

The company's core activities include film and television production and distribution through units such as Warner Bros.

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